As I noted earlier, in determining whether an activity is financial in nature or incidental to a financial activity, the GLB Act specifically instructs the Board to consider whether the activity is necessary or appropriate to allow a financial holding company
to compete effectively with any other financial services provider operating in the United States.
The other units to be merged into the new financial holding company
include the Cooperative Asset Management Corporation, and Taiwan Cooperative Bills Finance Corporation.
iii) What limitations are applicable to a financial holding company
acting as a finder?
Citibank Korea Inc, a unit of Citi (NYSE: C), has applied to the financial supervisory authorities to establish a financial holding company
, which will be tentatively named 'Citigroup Korea Inc.
Goldman Sachs (NYSE: GS) has announced that it has become a financial holding company
1843(k)(4)(H)) and this subpart authorize a financial holding company
, directly or indirectly and as principal or on behalf of one or more persons, to acquire or control any amount of shares, assets or ownership interests of a company or other entity that is engaged in any activity not otherwise authorized for the financial holding company
under section 4 of the Bank Holding Company Act.
Adopts specific standards with respect to consolidated home country supervision in order for a foreign bank to be treated as a financial holding company
Part 225, its Regulation Y (Bank Holding Companies and Change in Bank Control), by adding acting as a finder to the list of activities that a financial holding company
may conduct using the streamlined post-transaction notice procedure authorized by the Gramm-Leach-Bliley Act.